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SRG Graphite posts 1st nickel-cobalt resource for Gogota deposit

SRG Graphite Inc. posted an initial estimate of resources hosted by its Gogota nickel-cobalt deposit, which forms part of its Lola property in Guinea.

Gogota hosts inferred resources containing 573,040 tonnes of nickel, 59,560 tonnes of cobalt and 1.2 million kilograms of scandium within 44.9 million tonnes of ore grading 1.28% nickel, 0.13% cobalt and 29.4 g/t of scandium.

The base case, pit-constrained estimate uses cutoffs of 0.07% cobalt for limonite material and 0.7% nickel for transitional and saprolite material, according to the June 6 release, and incorporates data from 51 drillholes completed from 2012 to 2013.

SRG Graphite noted that the initial analysis covers the weathered portion of the deposit, from surface to depths of up to 40 meters.

"While our focus remains on bringing our Lola graphite deposit into production, we are investigating the best way to pursue the development of the Gogota deposit given its significant potential for value creation," SRG Graphite President and COO Ugo Landry-Tolszczuk said in the statement.

SRG Graphite reported initial graphite resources for Lola in late 2017, with plans to reassess the scope of an ongoing preliminary economic assessment.